Question: In 2 0 0 9 , U . S . liabilities were dollar - denominated corporate and official debts for the most part, while U

2009,

.

.

liabilities were dollar

-

denominated corporate and official debts for the most part, while U

.

.

external assets were mostly equities, bank loans, government debt, and foreign direct investment, denominated in foreign currencies. When the dollar fell in the wake of the financial crisis, what net effect was there on U

.

.

external wealth?

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